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The American Express Cash Magnet® Card is an everyday cash back credit card. It features a welcome offer of $150 statement credit after spending $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. Enjoy an unlimited 1.5% cash back on all your purchases. Plus, there’s no annual fee.
Learn more about this card and its features here.
American Express Cash Magnet Card Summary
Why You Should Apply
- Welcome Offer: Receive $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
- Unlimited 1.5% Cash Back: Use this card on all your purchases — no caps, no restrictions. Cash back is received in the form of Reward Dollars. Redeem them for statement credit, gift cards, and merchandise. Your rewards don’t expire as long as you’re in good standing. However, there is a $25 minimum redemption threshold.
- No Annual Fee: Get all the benefits from American Express without paying an annual fee.
- Car rental loss and damage insurance coverage Travel accident insurance coverage Purchase and return protection and extended warranty offers
Additional Benefits
- Travel Perks: Enjoy car rental loss and damage insurance, global assist hotline, roadside assistance hotline, and travel accident insurance.
- Shopping Perks: Shop more with extended warranty, return protection, purchase protection, and complementary ShopRunner membership.
- Amex Offers: Add the offers to your account through amexoffers.com. Earn either points or statement credit. Get more savings at places you like to shop, dine, and travel.
Bottom Line
For everyday shoppers and savers, the American Express Cash Magnet® Card is an excellent credit card with flat cash back. There are many cards that offer 1.5% cash back in the market and the option to transfer points earned for better rewards, such as the Chase Freedom Unlimited® Card. However, the Cash Magnet welcome offer is pretty noteworthy.
If you’re interested in what more American Express has to offer, check out our list of the Best American Express Credit Cards. You can also find more Credit Cards from other issuers!
Learn more about this card and its features here.